a) What is the characteristics of a perfectly competitive market.

b) Using the concepts in Part (a) above, decide on the type of market structure for the following:

1. Sunkist, a producer for juice beverages in Malaysia.
2. A farmer who produces corn in the Northern-states of the Peninsular Malaysia.

c) Which of these market structures is the most prevalent in the Malaysian economy? Justify your answer.

Let us assume the situation like in the lecture; the home country exports cloth and imports food. Please explain with graph(s)what will happen, if the relative price of food increases?

Particularly, derive

A What will happen with the slope of the iso-value line?

B What will happen with the production quantities in the home country (Will more or less food produced and will more or less cloth produced) ? Why?

C What will happen with the terms of trade of the home country?

D Will the home country be better or worse off, after the relative price of food increased? Why?

The prime minister announced the movement control
order from March 18-31 to curb the spread of the
coronavirus. Discuss how the restaurant business in
Malaysia is affected and what are measures taken by
the operators. (300-400 words)

Focussing upon current UK macroeconomic issues

With reference to the present situation (March/April 2020) relating to the ‘Covid 19’ Coronavirus which is impacting with extremely adverse effects upon the world health situation and much of the world macroeconomy

Explain in macroeconomic terms how the above virus is impacting upon the following economic sectors:

The UK commercial aerospace sector these typically carrying holiday and business passengers; and the UK retail food supply sector (supermarkets such as Tesco, Sainsbury, ASDA etc).

Focus upon the effects which may be impacting upon the short-run and the longer run viability of these businesses, how ‘Bandwagon’ effects may be impacting upon the sectors and the measures that Government can implement in order to influence these outcomes.

With reference to ‘Automatic Fiscal Stabilisers’ (AFS)

Define what you understand by the term Automatic Fiscal Stabilisers and provide an explanation as to how ‘Automatic Fiscal Stabilisers’ may work within the UK economy. Outline any problems that may arise when automatic stabilisers begin to take effect.

The prime minister announced the movement control order from March 18-31 to curb the spread of the coronavirus. Discuss how the restaurant business in Malaysia is affected and what are measures taken by the operators. (200-300 words)

Please hand written on paper (A4 pages). Atleast 300 words

1- Describe the impact of the coronavirus and government policy responses in terms of the AD/AS model and 'shifters'.

23. With reference to ‘Automatic Fiscal Stabilisers’ (AFS)

Define what you understand by the term Automatic Fiscal Stabilisers and provide an explanation as to how ‘Automatic Fiscal Stabilisers’ may work within the UK economy. Outline any problems that may arise when automatic stabilisers begin to take effect.

Suppose that you are the managing director of a pharmaceutical company that sells a unique patented drug to hospitals and drug stores. You are free to charge different per unit prices at these two markets. Let p be the price per unit of drug and q be the quantity demanded. The hospitals demand curve is described by p = 12 – q and the drug stores demand curve is given by p = 8− q. The marginal cost of producing the drug is constant and equal to c = 2 per unit.

1. What is the price that you will charge to hospitals (H)? To drug stores (D)?

2. If you were to charge a uniform price to all the buyers, what would it be?

3. If the Antitrust Division cares about the sum of your company’s profits plus the total consumer surplus of all the buyers, do you think it should ban price discrimination? (Computation required for full credit. Hint: compute the consumer surplus separately for drug stores and hospitals, even if they buy at the same price, and then add them up.)

What Is Fiscal Policy? Full word page simple summary

The supply function for good X is given by Q x s = 200 + 4P X - 3P Y - 5P W, where P X is the price of X, P Y is the price of good Y and P W is the price of input W. If P X = 500, P Y = 250, P W = 30, then the supply curve is:

Please solve step by step. I think the answer is -700+4Px, but to get that the numbers are plugged in except 500. Why is that the case??

With reference to an Injections and Withdrawals diagram.

If this diagram is illustrating a Recessionary Gap -

Explain in detailed what this diagram is outlining and what measures a Government may take to correct this economic situation and why Government may take these actions

Suppose that a typhoon occurs each year with a probability 1/12 and that a typhoon will destroy bananas from exactly half the farmers who choose to plant in a particular year. Calculate the expected profit of each farmer (including the planting costs) if exactly 110 farmers enter the market, and each chooses to plant 12,500 kgs of bananas. Explain why you would expect additional farmers to enter the market when typhoons are possible. Discuss what this implies for equilibrium prices in years where a typhoon does not occur.

In your own words, write about 200 - 400 words explaining why Alibaba is one of the most successful corporations in the world and what is their plans to keep on being a successful business for the upcoming years

1. a) How does a depreciation/devaluation of a nation’s currency operate to eliminate a deficit in its current account? (15 points)

b) How do you calculate that a particular currency is undervalued? Explain your answer with a numeric example. (15 points)

c) Explain the process how balance of payments deficit is eliminated in the long-run without government intervention both in the fixed (Central Bank keeping exchange rate fixed) and in the flexible exchange rates system. (20 points)